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G Sachs Rates H-/ A-Shrs as Overweight, Upbeat About Consumer/ Internet/ Insurance/ Healthcare Sectors
Recommend 2 Positive 3 Negative 10 |
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Goldman Sachs maintained an Overweight stance on Chinese and Hong Kong stock markets. Kinger Lau, Chief China Equity Strategist at Goldman Sachs, pointed out that the forward one-year P/E ratios for MSCI China and CSI 300 indices are currently 10.1x and 13.5x, respectively, which have already reverted to a historical median average, but they still have attractiveness as they offer significant discounts compared to other markets. Driven by corporate earnings growth and moderate valuation increases, Goldman Sachs forecasted that MSCI China and CSI 300 will rise by 15% and 13% next year. Lau said that Goldman Sachs has not set a target for the HSI, but he expected that the HSI may reach around 23,000 next year using the growth of the MSCI China index as a reference. In terms of sectors, the broker envisioned a solid rebound in the consumer sector next year. It was also optimistic about non-bank financial sectors like the internet, e-commerce, gaming, media, pharmaceutical, and brokerage sectors, advising investors to explore government-related consumption investment themes, such as transportation infrastructure, high-tech equipment, essential consumer goods, and semiconductors. Goldman Sachs was also upbeat about companies actively enhancing shareholder returns, predicting that the total amount of dividends and buybacks of Chinese listed companies could exceed RMB3 trillion in 2025. AAStocks Financial News |
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